BAA sells Gatwick for $2.5b

10/23/2009 10:09:30 AM

BAA has agreed to sell Gatwick Airport for US$2.5 billion to investment fund Global Infrastructure Partners, in an effort to clean up its balance sheet and after being ordered by the UK Competition Commission to make the sale. Dow Jones reported.   BAA said it will use the proceeds to repay debt. A $91.9 million portion of the sale price is conditional on future traffic performance and the buyer's future capital structure.   Global Infrastructure Partners, an investment fund controlled by Credit Suisse Group and General Electric, beat several bidders in its offer, which was higher than the $2.2 billion Gatwick had been expected to fetch.   Cargonews Asia

RELATED NEWS

OTHER NEWS

US cargo, passenger totals still falling (10/23/2009 10:08:43 AM) Frontier Expands Service to Louisville and New Orleans (10/23/2009 10:08:17 AM) El Al announced Peak Season Surcharge (10/22/2009 9:42:52 AM) First A330-200F prepped for maiden flight in November (10/22/2009 9:42:12 AM) MASkargo wants bigger planes (10/22/2009 9:41:27 AM) Korean revamps US ops (10/22/2009 9:40:40 AM) JetBlue Airways Increases Flights from Boston to Baltimore (10/22/2009 9:37:33 AM) No Boeing cancellations from China’s airlines (10/20/2009 9:39:22 AM) Etihad Airways resumes flights to Sri Lanka (10/20/2009 9:39:02 AM) Europe figures down 15.1 per cent (10/19/2009 10:51:46 AM)

COMMENTS

Your comment

Content: Email / Name / Tel:

The most comprehensive and easy-to-use global marine weather application

With the Courtesy of Bao Hoang Yachts Co. Click "HERE" to get your own 30day free trail or contact Ms Phuong Bui at Vietnam Shipper: phuongbq@vil.com.vn / 08.39330 148